eBay 1999 Annual Report Download - page 65

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Segment selection is based upon the internal organization structure, the manner in which these operations
are managed and their performance evaluated by management, the availability of separate financial information,
and overall materiality considerations. Segment performance measurement is based on operating income before
income taxes, amortization of intangibles, stock compensation and merger related costs. The operating
information for the two segments identified are as follows, (in thousands):
Year Ended December 31, 1997
Online Offline Consolidated
Net revenues from external customers ....................... $5,744 $35,626 $41,370
Operating income before amortization of intangibles, stock
compensation, and merger related costs .................... $1,487 $ 8,496 $ 9,983
Interest and other income, net ............................. 59 995 1,054
Interest expense ....................................... (3) (2,368) (2,371)
Amortization of intangibles, stock compensation, and merger
related costs ........................................ — — —
Income before income taxes, as reported ..................... $1,543 $ 7,123 $ 8,666
Total assets .......................................... $5,619 $56,731 $62,350
Year Ended December 31, 1998
Online Offline Consolidated
Net revenues from external customers ...................... $47,352 $38,777 $ 86,129
Operating income before amortization of intangibles, stock
compensation, and merger related costs ................... $11,573 $ 6,678 $ 18,251
Interest and other income, net ............................ 908 891 1,799
Interest expense ...................................... (39) (2,152) (2,191)
Amortization of intangibles, stock compensation, and merger
related costs ....................................... (5,486) — (5,486)
Income before income taxes, as reported .................... $ 6,956 $ 5,417 $ 12,373
Total assets ......................................... $92,545 $56,991 $149,536
Year Ended December 31, 1999
Online Offline Consolidated
Net revenues from external customers ..................... $182,533 $42,191 $224,724
Operating income before amortization of intangibles, stock
compensation, and merger related costs .................. $ 4,248 $ 3,188 $ 7,436
Interest and other income, net ........................... 23,135 209 23,344
Interest expense ..................................... (152) (1,815) (1,967)
Amortization of intangibles, stock compensation, and merger
related costs ...................................... (6,766) (1,834) (8,600)
Income (loss) before income taxes, as reported .............. $ 20,465 $ (252) $ 20,213
Total assets ........................................ $867,239 $96,703 $963,942
eBAY INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
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